Hello everyone!
Some people asked me how to use the TP/SL feature on Binance Futures. I then create this article with hope that can be even just a litle helpful for some of you guys to understand and be able to use in your trading journey.
In order to manage risk as well as taking profit automatically. Binance allows us to set TP/SL on our trading positions.
I had to make a small trade for you guys to have a look at it.
Let’s say we place a Short with market price on BNBUSD
When we press on TP/SL , the next screen will be:
Position TP/SL is when you set TP/SL for your entire positions. Otherwise, you can divide a trading position into multiple price targets for Take Profit and Stop Loss orders rather than placing a single order that covers your entire position. Unlike the default Position TP/SL, you can set multiple TP/SL orders (up to 4 for each order type), each covering a different portion of your position.
Then we can press “Confirm” to finalize the process
Above are just some basic information on how to use the TP/SL feature.
If you find this informative and helpful, do not hesitate to like and follow me for more posts and articles in the future.
Thank you for reading the post and trade safe ❤️
#tradingknowlegde #Bitcoin❗ $BTC